German Exports Rise Again Amid Supply Chain Woes

Faizan Hashmi Published September 09, 2021 | 03:22 PM

German exports rose in July for the 15th month in a row, according to data published Thursday, despite shortages and supply frictions causing concerns for industry

Frankfurt, Sept 9 (UrduPoint / Pakistan Point News - 9th Sep, 2021 ) :German exports rose in July for the 15th month in a row, according to data published Thursday, despite shortages and supply frictions causing concerns for industry.

Exports from Europe's largest economy were up 0.5 percent compared with the previous month, the Federal statistics agency Destatis said, a figure equivalent to 115 billion Euros ($136 billion) of goods.

Imports were down by 3.8 percent in July compared with the previous month, causing Germany's closely-watched trade surplus to climb slightly to 17.

9 billion euros, in seasonally-adjusted terms.

Global supply chain issues and unresolved trade conflicts meant there were "dark clouds" on the economic horizon, powerful German industry lobby the BDI said.

Shortages of raw materials and key components, such as semiconductors and plastics, have held back German industrial output, the group said.

The German car industry, an export leader, has been particularly negatively affected, with Volkswagen amongst the companies curbing production while waiting for supplies.